Turnkey Venue and Office
For Sale
Contact for pricing
1440 Moon River Dr, Provo, UT 84604
Remodeled venue and office space near BYU.
Property Size15,761 SF
Price / SF$253.47
Days on Market690
Property Features for 1440 Moon River Dr
General Information
Standard status
Active
Size
15,761 SF
Class
A
Property subtype
Office, Retail, Special Purpose
Zoning
SC2 - Community Shopping Zone (Many uses permitted here - see Provo City for specifics)
Building Details
Year Built
2000
Year Renovated
2018
Buildings
1
Stories
1
Listing Agency:
Core Utah Real Estate
(801) 222-9696
Listed By:
Aaron Cook · License #Utah
Source:
Crexi
Added: Oct 9, 2024
Changed: Aug 16
Last Checked: Aug 25 at 8:59PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Core Utah Real Estate
Investment Insights
Based on property information with market context.
This property, suitable for a corporate headquarters, sales team location, church, or school, features modern finishes and high-quality materials. The 15,761 square-foot building includes offices, conference rooms, and a large open auditorium equipped with high-end audio-visual equipment, which is negotiable. Remodeled from top to bottom in 2018, the property offers approximately 155 potential dedicated parking spaces. The current owner uses the space for events and office purposes, while also renting out the main venue. A new owner could continue generating rental income from the main venue. The layout includes multiple corporate offices, conference room(s), lounge areas, a breakroom, a kitchen for corporate offices, a catering/prep kitchen for events, a large storage/racking/warehouse area, and the main event/ballroom area. The ballroom occupancy is 350, and the total building occupancy is 600. There is one ground-level door in the back. Some audiovisual equipment, catering equipment, and furniture can potentially be included in the sale. The property is in a prime location near BYU.
Key Highlights
- Prime location near BYU.
- Large open auditorium/ballroom venue with high‑end audio‑visual equipment (negotiable), offering potential rental income.
- Perfect corporate headquarters with multiple offices, conference rooms, lounge areas, and breakroom.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$199,360
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,987,200
$4.0M
Cap Rate 7%
$2,848,000
$2.8M
Cap Rate 9%
$2,215,111
$2.2M
Market Conditions
NOI Build-Up for 15,761 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$346.1K $21.96/SF
− Vacancy
−$80.3K −$5.09/SF
EGI
$265.8K $16.87/SF
− OpEx
−$66.5K −$4.22/SF
NOI
$199.4K $12.65/SF
Area
Provo, UT
Vacancy
23.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,987,200
Cap Rate 7%
$2,848,000
Cap Rate 9%
$2,215,111
Alternative Uses
Best Use
Office B
$2.85M
$2.49M – $3.32M
NOI $199,360 @ 7.0% cap · market cap 4.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.35M
$3.80M – $5.07M
NOI $304,279 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,824
Businesses Nearby
Explore this area
Business Placement
Demographics for 84604, UT
45,503
Population
13,285
Households
3.4
Avg Household Size
26
Median Age
56%
College-Educated
98%
High-School Grad
94.8 sq mi
ZIP Area
480
Density / Sq Mi
$74,522
Median Household Income
$16,799
Median Earnings
$1,128
Median Rent
$520,500
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Wedding venue - Remodeled venue and office space near BYU.
Where is this wedding venue located?
The property is located at 1440 Moon River Dr Provo, UT.
What is the asking price?
The asking price for this property is $3,995,000.
What are key features of this property?
This property features: Prime location near BYU.; Large open auditorium/ballroom venue with high‑end audio‑visual equipment (negotiable), offering potential rental income.; Perfect corporate headquarters with multiple offices, conference rooms, lounge areas, and breakroom.
